“You can’t raise business taxes by $1 billion and then lament months later how New Jersey’s tax policy has failed to draw start-ups to the state,” said Oroho. “While I hope this new initiative will prove successful, it’s likely that the mixed messages sent by Governor Murphy to the business community will continue to depress the state’s economic growth.”

Allamuchy NJ , Senator Steven Oroho said that a regulation proposed by the Internal Revenue Service that would derail an attempt to sidestep the recently enacted $10,000 cap on the federal deduction for state and local taxes highlights the need to advance major reforms to lower the cost of government in New Jersey.